VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 10/28/13 -- Ross J. Beaty, of 1550 - 625 Howe Street, Vancouver, British Columbia, V6C 2T6, today announced that on October 25, 2013 he indirectly acquired ownership of $2,250,000 principal amount of unsecured convertible notes bearing interest at 7% per annum (the "Notes") which, if converted would represent 852,272 common shares of Augusta Resource Corp. ("Augusta") in a private placement transaction in reliance on the accredited investor exemption set out in section 2.3 of National Instrument 45-106 Prospectus and Registration Exemptions. The common shares that could be acquired on conversion of the Notes acquired on October 25, 2013 would represent approximately 0.5% of the total number of issued and outstanding common shares of Augusta on a partially-diluted basis. As a result of this transaction, Mr. Beaty now owns, directly or indirectly, or exercises control or direction over, 13,335,500 common shares of Augusta, representing approximately 9.2% of the total number of issued and outstanding common shares of Augusta on a non-diluted basis. In addition, Mr. Beaty holds, directly and indirectly, an aggregate of $5,000,000 principal amount of Notes, which may be converted to acquire an additional 1,849,757 common shares of Augusta. If all such Notes were converted, Mr. Beaty would exercise ownership and control, directly or indirectly, over a total of 15,185,257 common shares of Augusta, which would represent approximately 10.4% of the then issued and outstanding common shares of Augusta on a partially-diluted basis. Mr. Beaty's acquisition was made for investment purposes. Mr. Beaty may, in the future, acquire ownership and control over additional securities of Augusta for investment purposes.
For more information, or to obtain a copy of the subject early warning report, please see the contact information below.
Contacts:
Ross J. Beaty
1550 - 625 Howe Street
Vancouver, British Columbia
V6C 2T6
(604) 684-1175
(604) 684-0147 (FAX)
